Cimarex Energy Co (NYSE:XEC) – Research analysts at KeyCorp cut their FY2016 earnings estimates for shares of Cimarex Energy in a note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum now expects that the brokerage will post earnings per share of $0.70 for the year, down from their prior estimate of $0.71. KeyCorp also issued estimates for Cimarex Energy’s Q1 2017 earnings at $0.95 EPS, Q2 2017 earnings at $0.98 EPS, Q3 2017 earnings at $1.20 EPS, Q4 2017 earnings at $1.50 EPS, FY2017 earnings at $4.64 EPS, Q1 2018 earnings at $1.51 EPS and FY2018 earnings at $6.08 EPS.

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Earnings History and Estimates for Cimarex Energy (NYSE:XEC)

Several other research analysts have also issued reports on the company. Iberia Capital assumed coverage on Cimarex Energy in a research note on Thursday. They set an “outperform” rating and a $160.00 price objective for the company. Wells Fargo & Company lowered Cimarex Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, December 16th. Goldman Sachs Group, Inc. (The) upgraded Cimarex Energy from a “neutral” rating to a “buy” rating in a research note on Friday, December 16th. J P Morgan Chase & Co upgraded Cimarex Energy from a “neutral” rating to an “overweight” rating and set a $150.00 price objective for the company in a research note on Thursday, December 8th. Finally, Nomura reiterated a “hold” rating and set a $129.00 price objective on shares of Cimarex Energy in a research note on Monday, November 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $132.82.

Shares of Cimarex Energy (NYSE:XEC) opened at 139.65 on Friday. The firm has a 50-day moving average of $137.73 and a 200-day moving average of $130.05. The firm’s market capitalization is $13.26 billion. Cimarex Energy has a one year low of $72.77 and a one year high of $146.96.

A number of large investors have recently made changes to their positions in XEC. Ashburton Jersey Ltd raised its stake in shares of Cimarex Energy by 20.9% in the second quarter. Ashburton Jersey Ltd now owns 9,120 shares of the company’s stock worth $1,088,000 after buying an additional 1,575 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Cimarex Energy by 1.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,348 shares of the company’s stock worth $876,000 after buying an additional 126 shares in the last quarter. Henderson Group PLC raised its stake in shares of Cimarex Energy by 12.9% in the second quarter. Henderson Group PLC now owns 11,419 shares of the company’s stock worth $1,362,000 after buying an additional 1,308 shares in the last quarter. Spectrum Management Group Inc. purchased a new stake in shares of Cimarex Energy during the second quarter worth about $549,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Cimarex Energy by 5.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,377 shares of the company’s stock worth $403,000 after buying an additional 188 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Daily Political and is the propert of of Daily Political. If you are accessing this news story on another website, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this news story can be accessed at http://www.dailypolitical.com/2017/01/13/cimarex-energy-co-xec-to-post-fy2016-earnings-of-0-70-per-share-keycorp-forecasts.html.

In related news, SVP Francis Brian Barron sold 1,512 shares of Cimarex Energy stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $137.83, for a total value of $208,398.96. Following the sale, the senior vice president now owns 76,942 shares of the company’s stock, valued at approximately $10,604,915.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Albi sold 3,093 shares of Cimarex Energy stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $123.47, for a total value of $381,892.71. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.23%. Cimarex Energy’s dividend payout ratio (DPR) is presently -2.70%.

Cimarex Energy Company Profile

Cimarex Energy Co is an independent oil and gas exploration and production company. The Company’s segment is exploration and production. Its operations are located mainly in Oklahoma, Texas and New Mexico. Its operations are focused in approximately two main areas, such as the Permian Basin and the Mid-Continent region.

5 Day Chart for NYSE:XEC

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